The scenario has also pushed up inflation as local shops have continued to benchmark their price using the parallel market exchange rate. “We continue to witness some increases in aggregate demand in the economy and that increase is mainly attributed to the use of local currency, what we have...
Yearly inflation rates have since fallen from a high of 837 % to the current 194 % as at April 30, 2021 amid the slowdown of the Zimbabwe dollar depreciation on both the parallel and official exchange rate markets. Several listed companies and banks have since acknowledged the platform’s imp...
According to RBZ, Zimbabwe’s exchange rate has remained relatively stable since October 2024, largely due to an increase in reserves. Exchange rate premiums have also dropped significantly from over 100% in September last year to just 20% by March 2025. This is reflected in the current paralle...
The Reserve Bank of Zimbabwe (RBZ) has revised its 2024 economic growth forecast down to 2%, citing the severe drought's impact on economic activity. This is a sharp decline from earlier estimates, including a 3.5% forecast in April and a 5.3% forecast in November 2023. The drought has ...
He said the starting exchange rate of the ZiG would be determined by the prevailing closing interbank exchange rate as at April 5, and the London PM Fix price of gold as at April 4, 2024. “The intervening exchange rate shall be determined by the inflation differential between ZiG and...
President Emmerson Mnangagwa on Thursday brought forward by a month the appointment of John Mushayavanhu as the new Reserve Bank of Zimbabwe governor, hoping to stem the collapse of the local currency.The official exchange rate moved from US$1 : ZWL$6,000 in January to ZWL$20,000 on March...
Dr Mushayavanhu told journalists and bank executives in Harare yesterday that its interventions, couched around a tight monetary policy stance, had restored exchange rate and inflation stability. Interest on ZiG savings account deposits has been hiked from 3,5 percent to 5 percent and from 5 perce...
THE Reserve Bank of Zimbabwe (RBZ) has ruled out using an interbank-driven exchange rate, saying a rate determined at the foreign currency auction system would remain in force. An interbank rate is the interest rate charged on short-term loans between banks. ...
“In the wake of manipulation of the exchange rate by some borrowers of large amounts to the detriment of consumers, the bank reserves the right to publish the names of significant borrowers across the banking sector in the public interest,” read the statement. ...
In July last year, gold coins were introduced as part of several policy measures to ease demand for the greenback, stabilise the Zimbabwe dollar exchange rate and tame resurgent inflation. But the gold coins have done little to save the local currency that is trading at $1 to $2 100 on ...